In the residential segment of the real estate industry, computerized real estate information databases, known as multiple listing service (MLS) databases, have become the premier source of centralized real estate property listing information. MLS databases enjoy widespread acceptance throughout the industry. Individual real estate agencies subscribe to the MLS and provide information about properties both listed and sold. Access is ordinarily restricted to licensed real estate professionals, appraisers, and lending institutions.
Typically, an MLS database contains a set of property listing records describing real estate properties being offered for sale, leasing, or rental for a defined geographic region. Each listing identifies and describes the various characteristics of the property in a standard, pre-defined format, which can be easily and accurately searched. Listings can also include maps and photographs of the property. The characteristics also include mortgage rate, pricing and tax information, including the price and terms at which a particular property sold.
One important aspect of MLS databases is the ability to archive historical information about properties already sold for use by a broad audience. For instance, to a potential seller or purchaser, historical information is crucial in determining the price at which a comparable property would sell in a particular market segment. Similarly, to an appraiser, historical information is essential in arriving at an appropriate appraisal figure. In an active real estate market, near real time historical information is almost a requirement.
Another important aspect of MLS databases is the capability of providing access to new or updated listing information. Most MLS databases are updated continuously. However, as a practical matter, real estate agents do not have continuous access to their respective MLSs. Consequently, real estate agents, and therefore, their clients, generally only learn about new or updated listings during an MLS database access session conducted at the agents' office.
One prior art approach to providing access to an MLS is through a remote terminal session. Typically, a terminal or a personal computer configured with a terminal emulator connects to the MLS database either over a dedicated line or via a dial up connection with a modem. The listing information is served in a character-based, page display format, generally consisting of a 25 by 80 character presentation space. Thus, the terminal or personal computer must provide a sufficient screen size upon which to view the listing information, one page at a time. Moreover, access to historical information and new or updated listings can only be obtained during a given access session.
A similar prior art approach to providing access to an MLS is the MLSWindows product, described in “WyldFyre Technologies, Inc., Leading the Way In Real Estate GUI Software,” Real Innovators, pp. 18-20 (Summer 1997 ed.). Unlike the conventional terminal screen-based approach, the MLSWindows product provides a graphical user interface (GUI) for viewing listing information, including maps. The MLSWindows product also provides a capability to connect to an MLS database via a TCP/IP network or via synchronous or asynchronous communications. However, the MLSWindows product requires a personal computer with a windowing environment upon which to operate. Although significant progress has been made in miniaturizing portable personal computers, at best, these systems suffer from limited battery life and require a size and weight that make handheld operation impracticable.
Therefore, there is a need for a highly portable and flexible solution for remotely accessing a real estate information database in an interactive fashion. Preferably, such a solution includes a capability to automatically be notified of or inquire into new or updated listings.
There is a further need for an approach to remotely accessing a real estate information database using a portable computing device which could be standalone or integral to a portable information or communication appliance, such as a wireless communications device.